Security Deposit: How It Works

Purpose of the Security Deposit

The deposit covers:

• Damage to the space
• Rule violations
• Holdover time
• Unauthorized alterations

Return Timeline

• Security deposits are processed on the 10th and 25th of each month.
• Deposits will be returned on the soonest scheduled payment date following checkout, subject to completion of the standard post-checkout inspection and reconciliation.
• Deductions may apply if repairs or violations occur

Full Forfeiture

May occur in cases of:

• Severe damage
• Unauthorized exterior alterations
• Major rule violations

Note: This article is a general summary for convenience only. The executed Parasol Projects License Agreement governs in all cases.